Eos Energy Enterprises Inc. (EOSE) stock experienced a massive selloff, plunging over 16% in after-hours trading on Monday, November 5th, 2024, following the release of the company's disappointing third-quarter financial results. Investors reacted negatively to Eos Energy's significant earnings and revenue misses, which fell well short of analyst expectations.

The energy storage solution company reported a quarterly adjusted loss per share of $0.44, missing the analyst consensus estimate of $0.18 by a staggering 144.44%. Additionally, Eos Energy's quarterly sales of $854,000 represented an 86.81% miss compared to the expected $6.477 million, despite a 24.85% year-over-year increase in revenue.

While Eos Energy announced a new agreement with City Utilities of Springfield, Missouri, to provide 216 megawatt-hours of energy storage for two project sites, this positive development was overshadowed by the company's disappointing financial performance. The company also revised its full-year revenue guidance downward to $15 million, citing supply chain disruptions, significantly lower than analysts' expectations of $62.6 million.

The massive earnings and revenue misses have raised concerns among investors about Eos Energy's ability to meet growth expectations and execute its business strategy effectively. As a result, the stock experienced a significant after-hours plunge, reflecting the market's disappointment with the company's performance.